MOSCOW, April 28 (RIA Novosti) - Severstal (RTS: CHMF) said Friday its net profit had fallen in the first quarter of 2006 by 36.69% year-on-year, to 5.676 billion rubles ($207.4 million).
"Net profit fell due to a decrease in sales income," the steel maker said in a statement.
In 2005, Severstal's consolidated net profits, calculated to International Financial Reporting Standards, declined 8.3% year on year to $1.29 million.
Severstal is the parent company of Severstal-Group holding and its metals division. The company's principal shareholders are Kapital (66.12%) and Jadeglide Limited (16.63%).
